Civic Intelligence

Ready Mixed Concrete Research and Education Foundation Inc

990 • Fiscal year 2016 • EIN 52-1680963

Jan 01, 2016 to Dec 31, 2016 • Filed on Sep 18, 2017

900 Spring StreetSilver Spring, MD 20910

(240) 485-1150

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

13th percentile

0.01x

Higher debt load relative to assets than 13% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

11th percentile

0.03x

Higher debt load relative to revenue than 11% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

96th percentile

72%

Higher net margin than 96% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

72nd percentile

$256,019

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

92nd percentile

36%

Faster asset growth than 92% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

98th percentile

284%

Faster revenue growth than 98% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$21,025,663

Up $5,582,321 (+36%) from 2015

Net Assets

Up

$20,829,606

Up $5,793,353 (+39%) from 2015

Liabilities

Down

$196,057

Down $211,032 (-52%) from 2015

Revenue

Up

$6,843,914

Up $5,061,404 (+284%) from 2015

Expenses

Up

$1,908,454

Up $169,066 (+9.7%) from 2015

Net Income

Up

$4,935,460

Up $4,892,338 (+11345%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2011: $14,181,971Liabilities 2011: $182,040Net Assets 2011: $13,999,9312011Assets 2012: $14,810,002Liabilities 2012: $57,660Net Assets 2012: $14,752,3422012Assets 2013: $15,638,149Liabilities 2013: $70,851Net Assets 2013: $15,567,2982013Assets 2014: $16,153,848Liabilities 2014: $37,054Net Assets 2014: $16,116,7942014Assets 2015: $15,443,342Liabilities 2015: $407,089Net Assets 2015: $15,036,2532015Assets 2016: $21,025,663Liabilities 2016: $196,057Net Assets 2016: $20,829,6062016Assets 2017: $24,864,787Liabilities 2017: $111,974Net Assets 2017: $24,752,8132017Assets 2018: $23,467,528Liabilities 2018: $51,388Net Assets 2018: $23,416,1402018Assets 2019: $25,691,464Liabilities 2019: $84,059Net Assets 2019: $25,607,4052019Assets 2020: $27,410,998Liabilities 2020: $182,803Net Assets 2020: $27,228,1952020Assets 2021: $29,901,660Liabilities 2021: $162,199Net Assets 2021: $29,739,4612021Assets 2022: $24,289,355Liabilities 2022: $195,653Net Assets 2022: $24,093,7022022Assets 2023: $25,431,410Liabilities 2023: $182,161Net Assets 2023: $25,249,2492023Assets 2024: $26,365,712Liabilities 2024: $139,896Net Assets 2024: $26,225,8162024

Highlighted filing

2016

Assets$21,025,663
Liabilities$196,057
Net Assets$20,829,606

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,355,356Expenses 2011: $1,958,879Net Income 2011: -$603,5232011Revenue 2012: $1,893,972Expenses 2012: $1,892,874Net Income 2012: $1,0982012Revenue 2013: $1,788,460Expenses 2013: $1,769,037Net Income 2013: $19,4232013Revenue 2014: $2,299,265Expenses 2014: $1,699,348Net Income 2014: $599,9172014Revenue 2015: $1,782,510Expenses 2015: $1,739,388Net Income 2015: $43,1222015Revenue 2016: $6,843,914Expenses 2016: $1,908,454Net Income 2016: $4,935,4602016Revenue 2017: $5,598,917Expenses 2017: $1,912,058Net Income 2017: $3,686,8592017Revenue 2018: $1,925,786Expenses 2018: $1,674,313Net Income 2018: $251,4732018Revenue 2019: $1,158,722Expenses 2019: $1,743,342Net Income 2019: -$584,6202019Revenue 2020: $1,932,666Expenses 2020: $1,668,355Net Income 2020: $264,3112020Revenue 2021: $2,739,375Expenses 2021: $1,675,899Net Income 2021: $1,063,4762021Revenue 2022: $2,022,609Expenses 2022: $2,294,692Net Income 2022: -$272,0832022Revenue 2023: $2,555,399Expenses 2023: $2,802,065Net Income 2023: -$246,6662023Revenue 2024: $2,954,224Expenses 2024: $2,660,100Net Income 2024: $294,1242024

Highlighted filing

2016

Revenue$6,843,914
Expenses$1,908,454
Net Income$4,935,460
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Sep 18, 2017
Return Version
2016v3.0
Gross Receipts
$14,947,764
Mission and Program Overview

Mission

The Foundation is dedicated to enhancing and strengthening the ready mixed concrete industry through independent research and quality education programming.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$13,023,979$13,501,305▲ $477,326
Pledges and Grants Receivable$1,244,655$6,226,640▲ $4,981,985
Savings and Temporary Cash Investments$949,197$910,279▼ $38,918
Prepaid Expenses and Deferred Charges$166,667$295,447▲ $128,780
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$15,443,342$21,025,663▲ $5,582,321
Other Assets Total$58,844$91,992▲ $33,148
Liabilities
Accounts Payable and Accrued Expenses$407,089$196,057▼ $211,032
Total Liabilities$407,089$196,057▼ $211,032
Net Assets / Fund Balance
Unrestricted Net Assets$13,732,998$14,527,966▲ $794,968
Temporarily Rstr Net Assets$1,303,255$6,301,640▲ $4,998,385
Total Net Assets Fund Balance$15,036,253$20,829,606▲ $5,793,353
Total Liabilities and Net Assets / Fund Balance$15,443,342$21,025,663▲ $5,582,321

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$80,000$80,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$1,303,255$6,165,753-$1,167,368$6,301,640
2015$1,391,582$804,748-$893,075$1,303,255
2014$874,035$1,354,146-$836,599$1,391,582
2013$14,589,182$344,203-$14,059,350$874,035
2012$13,553,772$871,084▲ $1,140,763$976,437$14,589,182
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Julie GarbiniExecutive DirectorFT$204,113$51,906$256,019
Jennifer LeFevreProgram DirectorFT$117,549$23,851$141,400

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$6,401,054
Program Service Revenue
$0
Investment Income
$442,860
Other Revenue
$0
All Other Contributions
$6,401,054
Change in Net Assets
$4,935,460

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,843,914
Revenue Not Reported on Form 990
$882,893
Total Revenue per Audited Statements
$7,726,807
Total Revenue per Form 990
$6,843,914
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,314,846
Salaries, Compensation, and Employee Benefits$408,892
Other Expenses$184,716
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,314,846--$1,314,846
Current Officers, Directors, Trustees, and Key Employees$217,617$38,402-$256,019
Other Salaries and Wages$81,270$35,768-$117,038
Fees for Service Investment Mgmnt Fees-$66,199-$66,199
Fees for Services Accounting-$33,086-$33,086
Travel$12,750$9,736-$22,486
Payroll Taxes$17,449$4,897-$22,346
Pension Plan Contributions$5,017$2,150-$7,167
Other Employee Benefits$4,425$1,897-$6,322
Insurance-$6,123-$6,123
Information Technology-$3,452-$3,452
All Other Expenses-$2,590-$2,590
Other Expenses-$1,597-$1,597
Office Expenses-$439-$439
Conferences and Meetings-$40-$40
Total Functional Expenses$1,653,374$255,080$0$1,908,454

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,933,454
Expenses per Audited Statements$1,908,454
Total Expenses per Form 990$1,908,454
Expenses Not Reported on Form 990$25,000
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
see attached schedulesilver spring, MD--$1,314,846
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

The Executive Director of the Foundation is married to a member of the Foundation's Board of Trustees.

Form 990, Part VI, Line 11B: Form 990 Review Process

The Executive Director reviews the Form 990 prior to filing with the Internal Revenue Service.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

available to public upon request.

Filing and Contact Details

Filer

Filer Name
Ready Mixed Concrete Research
EIN
52-1680963
Phone
2404851150
Address
900 SPRING STREET, SILVER SPRING, MD 20910

Signing Officer

Name
Julie Garbini
Title
Executive Director
Signed
2017-09-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julie Garbini
Formed
1990
Legal Domicile
Md
Voting Board Members
25
Independent Board Members
25
Employees
0

Preparer

Firm
T&F Certified Public Accountants LLC
Address
2 Professional Dr Ste 230, Gaithersburg, MD 20879-3422
Preparer
Mitchell a Freed CPA
Phone
5712764322
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: Oklahoma State University, Improving Specifications to Resist Frost Damage in Modern Concrete Mixtures:This project seeks to produce improved specifications, and test methods, while improving the understanding of the underlying mechanisms of frost damage. The objectives of this project are:1) Determine the necessary properties of the air void system to provide satisfactory frost durability in laboratory testing of laboratory and field concretes with different combinations of admixtures, cements, and mixing temperatures in salt environments.2) Determine the accuracy of a simple field test method that measures air void system quality with field and laboratory concrete.3) Determine the critical combinations of absorption and the critical degree of saturation on the frost durability in accelerated laboratory testing in the presence of deicer salts.4) Establish new test methods and specifications for fresh and hardened concrete to determine frost durability and field performance. OTHER PROGRAM SERVICES 5: OTHER PROGRAM SERVICES 6: Improving Concrete Durability:Durability challenges, particularly with respect to quantifying freeze-thaw, salt scaling and alkali silica reaction (ASR), remain prevalent in the concrete industry. In an effort to further advance concrete durability, researchers at Oregon State University (OSU) and the University of New Brunswick (UNB) will utilize the groundbreaking modeling that has taken place at the Concrete Sustainability Hub (CSHub) at the Massachusetts Institute of Technology (MIT). The projects will examine new inputs and elements of ASR (UNB),salt scaling and freeze-thaw (OSU) and will include deliverables aimed at a better understanding of and the ability to control for durability challenges. Additionally, the experience and relationships of the researchers at OSU and UNB with other organizations will assist in the expansion of this knowledge/increased implementation as well as the potential for increased collaborative funding of future research. OTHER PROGRAM SERVICES 7: Evaluation of Deicer Impacts on Pervious Concrete & Development of a Deicer Testing Method for Pervious Concrete:There is strong evidence and instances that suggest certain de-icing chemicals and salts can negatively affect pervious concrete and initiate a rapid degradation of the paste matrix, aggregate bonding, pavement durability and strength. A number of project locations have reported a failure of pervious concrete pavements within the last year as a result of their exposures to deicers and salts in the very severe winter of 2013-2014. These instances suggest there is a required necessity to better understand what is causing this disintegration of pervious concrete paste when exposed to deicer chemicals and evaluate mitigations to modify pervious concrete mix designs to enhance paste characteristics and quality, and to be more resistant to these widely used chemicals.In order to better understand what has contributed to these failures and to adequately evaluate pervious concrete paste characteristics to withstand harsh deicer and salt applications, development of a standardized laboratory approach and process is necessary. This will require analysis to effectively and consistently: Determine the effect of various de-icing methodologies on pervious concrete, Define and understand the chemical relationship and reactions of deicers and salts on cement paste, and Research and evaluate the potential for improved resistance of different pervious concrete mixes to the deleterious effects of deicer methodologies in use. OTHER PROGRAM SERVICES 8: OTHER PROGRAM SERVICES 9: Evaluation of Chloride Limits for Reinforced Concrete - Phase I:This project has updated research from the 1980s for more modern concrete mixes that include recycled materials and other admixtures. The research includes the establishment of a relationship between total chlorides from the materials used for concrete and water soluble chlori

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

enhancing and strengthening the ready mixed concrete industry through independent research and quality educational programming.

Part X : FIN48 Footnote

The Foundation is exempt from federal income taxes as an organization described under the Internal Revenue Code (IRC) Section 501(c)(3), except for net income derived from unrelated business activities, if any. The Foundation's open audit periods are 2013 through 2015. In accordance with ASC No. 740-10, "Income Taxes" that was issued, and prescribes a comprehensive model for how an organization should measure, recognize, present, and disclose uncertain tax positions taken on its tax return. The Foundation believes that it has appropriate support for tax positions taken and, as such, does not have any uncertain tax positions that are material to the financial statements.

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IRS990/Form990PartVIISectionAGrp/PersonNm25Julie Garbini
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IRS990/OtherExpensesGrp/Desc1Printing and Publications

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$26.4$0.14$26.2$2.95$2.66$0.29
2023Detailed filing. Detailed filing data is available for this year.$25.4$0.18$25.2$2.56$2.80$0.25
2022Detailed filing. Detailed filing data is available for this year.$24.3$0.20$24.1$2.02$2.29$0.27
2021Detailed filing. Detailed filing data is available for this year.$29.9$0.16$29.7$2.74$1.68$1.06
2020Detailed filing. Detailed filing data is available for this year.$27.4$0.18$27.2$1.93$1.67$0.26
2019Detailed filing. Detailed filing data is available for this year.$25.7$0.08$25.6$1.16$1.74$0.58
2018Detailed filing. Detailed filing data is available for this year.$23.5$0.05$23.4$1.93$1.67$0.25
2017Detailed filing. Detailed filing data is available for this year.$24.9$0.11$24.8$5.60$1.91$3.69
2016Detailed filing. Detailed filing data is available for this year.$21.0$0.20$20.8$6.84$1.91$4.94
2015Detailed filing. Detailed filing data is available for this year.$15.4$0.41$15.0$1.78$1.74$0.04
2014Detailed filing. Detailed filing data is available for this year.$16.2$0.04$16.1$2.30$1.70$0.60
2013Summary only. Only limited summary data is available for this year.$15.6$0.07$15.6$1.79$1.77$0.02
2012Summary only. Only limited summary data is available for this year.$14.8$0.06$14.8$1.89$1.89$0.00
2011Summary only. Only limited summary data is available for this year.$14.2$0.18$14.0$1.36$1.96$0.60